Just became a Hobie owner (for the first time) this last weekend. I now have a Hobie 16 in my back yard. Was looking at the Hobie web-site regarding serial numbers. The example info there is as follows,

HOBIE CAT'S I.D
MODEL 10K RANGE
SERIAL #
MONTH BUILT
YEAR BUILT
MODEL YEAR
CCM A 1234 A 3 03

Congratulations on your purchase of a Hobie Cat. Most people on this forum have made Hobie's a part of there life. You will soon realized the meaning "THE HOBIE WAY OF LIFE" You are correct your boat is a 1979. Be sure to check the standing rigging and if you have any questions to its integrity you can replace it al for less that $180. If you have any questions feel free to give me a call or shoot me a e-mail I will do everything I can.